Jefferies Financial Group Inc. Purchases New Shares in TIC Solutions, Inc $TIC

Key Points

• Jefferies Financial Group acquired 5 million TIC Solutions shares in the second quarter, valued at approximately $40.45 million and representing about 2.29% of the company.
• TIC Solutions reported quarterly EPS of $0.14, exceeding the $0.10 analyst consensus, on revenue of $584.35 million. However, the company posted a negative net margin of 5.64% and negative return on equity of 2.30%.
• Analyst sentiment remains mixed, with three Buy, three Hold and one Sell rating; the consensus rating is Hold with a $12.00 price target, compared with a recent share price of $9.82.

Jefferies Financial Group Inc. acquired a new stake in TIC Solutions, Inc (NYSE:TIC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,000,000 shares of the company's stock, valued at approximately $40,450,000. Jefferies Financial Group Inc. owned about 2.29% of TIC Solutions as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of TIC. Quantbot Technologies LP acquired a new position in TIC Solutions during the 2nd quarter worth about $29,000. National Bank of Canada FI acquired a new stake in TIC Solutions in the 3rd quarter valued at about $53,000. Principal Financial Group Inc. bought a new position in shares of TIC Solutions in the first quarter worth about $69,000. Tower Research Capital LLC TRC bought a new position in shares of TIC Solutions in the second quarter worth about $82,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of TIC Solutions by 10.1% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,688 shares of the company's stock worth $83,000 after purchasing an additional 1,165 shares in the last quarter.

TIC Solutions Price Performance

Shares of TIC stock opened at $9.82 on Friday. The firm's 50 day moving average price is $8.29 and its two-hundred day moving average price is $8.42. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.91 and a current ratio of 2.91. TIC Solutions, Inc has a 52-week low of $6.36 and a 52-week high of $14.94. The stock has a market cap of $2.14 billion, a PE ratio of -16.93 and a beta of 2.83.

TIC Solutions (NYSE:TIC - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.04. TIC Solutions had a negative return on equity of 2.30% and a negative net margin of 5.64%.The company had revenue of $584.35 million for the quarter. As a group, analysts forecast that TIC Solutions, Inc will post 0.29 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TIC shares. Zacks Research upgraded shares of TIC Solutions from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of TIC Solutions in a research report on Tuesday, June 9th. Robert W. Baird set a $10.00 target price on TIC Solutions in a research note on Friday, August 7th. Roth Capital restated a "buy" rating and set a $11.50 target price on shares of TIC Solutions in a research report on Thursday, May 7th. Finally, UBS Group upgraded TIC Solutions from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $11.00 to $12.50 in a research report on Tuesday, August 11th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $12.00.

TIC Solutions Profile

Acuren Group Inc NYSEAMERICAN: TIC is a leading provider of non‐destructive testing (NDT), inspection, engineering and consulting services to the energy, petrochemical, manufacturing and infrastructure sectors. The company employs a range of advanced testing techniques—such as ultrasonic, radiographic, magnetic particle, liquid penetrant, eddy current and acoustic emission—to evaluate the integrity of pressure vessels, pipelines, storage tanks and other critical assets. By combining field inspections with laboratory analysis, Acuren helps clients identify defects, prevent equipment failures and meet regulatory requirements.

In addition to core NDT capabilities, Acuren offers specialty engineering and consulting services including fitness‐for‐service assessments, corrosion under insulation surveys, mechanical integrity programs, failure analysis and field machining.

Want to see what other hedge funds are holding TIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TIC Solutions, Inc (NYSE:TIC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source